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EUR/AUD battles with the downside pressures

FXStreet (Guatemala) - EUR/AUD is trading at 1.4341, down -0.02% on the day, having posted a daily high at 1.4368 and low at 1.4328.

EUR/AUD is settling in on the mid point of the 1.43 handle and making a base here having lost ground from 1,4440 and the slide into a drift lower overnight. The Aussie is supported this week due to a series of positive data releases of late and the euro has not come up with anything of its own to defend off the bears.

However bearish the trend has been of late, the pair is still very much in neutral territory though on the longer term time frames and with economic developments, the Aussie is supported over the euro as liquidity enters the investment arena. But, a repatriation of funds as we grow closer to the year end could hold up further losses and keep the pair within the longer term sideways channel's range.

EUR/AUD noteworthy levels

Spot is presently trading at 1.4342, and next resistance can be seen at 1.4367 (Hourly 20 EMA), 1.4367 (Daily 100 SMA) and 1.4368 (Daily High). Support below can be found at 1.4328, 1.4304 (Daily Classic S1), 1.4266 (Weekly Classic S1) and 1.4262 (Daily Classic S2).

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